Chevy Chase Trust Holdings Inc. Has $8,059,000 Position in UDR Inc. (UDR)
Chevy Chase Trust Holdings Inc. cut its stake in shares of UDR Inc. (NYSE:UDR) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 223,931 shares of the real estate investment trust’s stock after selling 5,353 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of UDR worth $8,059,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of UDR. Vanguard Group Inc. boosted its stake in shares of UDR by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,596,913 shares of the real estate investment trust’s stock valued at $1,646,518,000 after buying an additional 1,283,909 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of UDR by 6.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the real estate investment trust’s stock valued at $1,599,829,000 after buying an additional 2,719,419 shares during the last quarter. FMR LLC boosted its stake in shares of UDR by 12.1% in the second quarter. FMR LLC now owns 26,196,706 shares of the real estate investment trust’s stock valued at $967,182,000 after buying an additional 2,817,406 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of UDR by 29.1% in the second quarter. Daiwa Securities Group Inc. now owns 16,911,460 shares of the real estate investment trust’s stock valued at $624,371,000 after buying an additional 3,810,916 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of UDR by 6.7% in the second quarter. BlackRock Fund Advisors now owns 10,725,835 shares of the real estate investment trust’s stock valued at $395,998,000 after buying an additional 671,115 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.
UDR Inc. (NYSE:UDR) traded up 0.06% during midday trading on Tuesday, reaching $34.11. The company’s stock had a trading volume of 951,157 shares. The company has a market capitalization of $9.12 billion, a P/E ratio of 41.30 and a beta of 0.39. The company has a 50 day moving average of $33.96 and a 200-day moving average of $35.42. UDR Inc. has a 1-year low of $32.79 and a 1-year high of $38.61.
UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The business earned $243.25 million during the quarter, compared to the consensus estimate of $239.85 million. UDR had a return on equity of 7.52% and a net margin of 22.79%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Equities research analysts anticipate that UDR Inc. will post $1.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, October 6th. UDR’s dividend payout ratio is currently 145.68%.
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UDR has been the subject of several analyst reports. Evercore ISI upgraded UDR from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $40.00 price target on shares of UDR in a research note on Wednesday, November 16th. BTIG Research started coverage on UDR in a research note on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target on the stock. Zacks Investment Research raised UDR from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Finally, BMO Capital Markets lowered UDR from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $38.00 to $35.00 in a research note on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.46.
In other UDR news, Director Clinton D. Mcdonnough acquired 3,000 shares of the stock in a transaction dated Friday, September 9th. The stock was acquired at an average price of $34.54 per share, with a total value of $103,620.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at $241,780. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Warren L. Troupe sold 15,000 shares of UDR stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total value of $550,500.00. Following the completion of the sale, the vice president now directly owns 562,903 shares of the company’s stock, valued at approximately $20,658,540.10. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.
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